Times Of Swaziland: ESWATINIBANK PUMPS E150K INTO EITF

ESWATINIBANK PUMPS E150K INTO EITF
================================================================================
Nhlanganiso Mkhonta on 15/08/2024 08:23:00


MBABANE – EswatiniBank Bank will be sponsoring this year’s Eswatini
International Trade Fair (EITF) with E150 000 and further seeks to promote
inclusivity of women and youth in business.
This sponsorship is inclusive of a mobile kitchen totalling E50 000, which will
be awarded to the best vendor, to promote inclusivity of women and youth in
business. The operations of the mobile kitchen will be monitored for a year by
Eswatini Investment Promotion Authority (EIPA). The exciting news was announced
by EswatiniBank representative, Melody Magagula during the EITF partners launch
held yesterday.
Magagula said the bank was excited to be a part of the 2024 EITF which will be
held from August 30, 2024 - September 8, 2024, as this time of the year brings a
renewed sense of energy and hope for businesses to thrive in the kingdom. “The
trade fair is an economic growth catalyst that carries significance that
stretches far beyond our borders and puts our country and businesses on the
international map. It creates a platform to exchange business views and visions
to take our economy forward.She stated that bank appreciates too, the value and
return on investment that comes from its participation,” said Magagula.
Initiative
She added that the trade fair provides an opportunity for active dialogue
between all participants establishing business relations, strengthening regional
cooperation and trade.
She encouraged more businesses to participate in this initiative. The EITF 2024
is themed: ‘Accelerating Business Growth through Digital Transformation’,
highlighting the importance of digital technologies in creating efficiencies and
enhancing sustainable business practices. The event is also aligned with
Eswatini’s e-Government initiatives and the Africa Continental Free Trade Area
(AfCFTA), aiming to propel local businesses into intra-African trade and
sustainable economic growth.
When launching this year’s edition of the trade fair, the Minister of
Commerce, Industry and Trade, Manqoba Khumalo, said the EITF 2024 has set an
ambitious goal of attracting over half a million visitors. Khumalo highlighted
the fair’s substantial impact on the local economy, projecting millions in
economic benefits through direct and indirect activities. “The EITF has become
Eswatini’s premium business networking event, with over 250 exhibitors and
vendors showcasing their goods and services for 10 days. ‘‘This year, we
anticipate welcoming over 500 000 visitors, injecting millions into our economy
through direct and indirect economic activity. Moreover, we estimate that the
EITF will create potential trade opportunities worth E150 million during and
after the event.
Potential
‘‘These numbers demonstrate the immense impact that the EITF has on our
nation’s economy and the potential it holds for our businesses,” he stated.
The new tagline, “CONNECT | CREATE | GROW,” encapsulates the fair’s
mission to foster dynamic interactions, innovation and business growth. Minister
Khumalo urged businesses to seize the opportunities presented by the fair,
emphasising the importance of digital technologies in advancing local
enterprises and enhancing intra-African trade.